Looking to get the most from the VA Loan benefits? Our military housing division EGA Homes works exclusively with Veterans and eligible surviving spouses to become homeowners. Here are a couple other things to consider.

Remember, you have a very unique circumstance with a VA Loan. It is important to let those with VA experience assist you.


Under a VA loan, you have a couple refinancing options that mean few or no out of pocket costs. Since it is the “VA Streamline Refinance program”. Or Interest Rate Reduction Refinancing Loan (IRRRL). Consequently, this is a great option for you if you want to refinance your existing loan at a lower interest rate.

It is actually extremely easy to get started. It means:

  • There is no re-appraisal ( usually )
  • You will not need to get a new certificate of eligibility
  • No requirement of out of pocket costs


According to Military.com, the advantages include:

• Refinance your existing VA loan to a lower interest rate

• This loan can be done with “no out of pocket money” by including all costs in the new loan, or by making the new loan at an interest rate high enough to enable you to pay the costs.

• The VA does not require an appraisal, income or employment verification, a credit report or termite report, as long as the current mortgage has been paid as agreed for the last 12 months and is up to date at the time of refinancing.

• You are allowed to include up to $6,000 in your refinancing loan for the purpose of energy efficient home improvements.

For more information on this loan, click here.

Cash-Out Refinance | VA Loan

In conclusion, a purchase loan helps you get a home at a good interest rate without a down payment and no PMI ( private mortgage insurance). Like the IRRRL, the cash out is another benefit for those who qualify.

According to the US Department of Veteran Affairs:

VA’s Cash-Out Refinance Loan is for homeowners who want to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements. You can use the Cash-Out Refinance Loan to refinance a non-VA loan into a VA loan. VA will guaranty loans up to 100% of the value of your home.Are you wondering if any of these options will work for you? Contact us to speak with our lender (who works with VA Loans) and see if refinancing is worthwhile.

Here if more information on EGA Homes:

EGA Homes – Military Housing Division For Our Veterans

image of military couple hugging for blog on VA Loan assistance

EGA Homes is a Veteran ran division within Coldwell Banker Blackstone. We understand the challenges Veterans face in transitioning into civilian life. Therefore EGA Homes will provide opportunities, training, education, and resources to help Veterans take full advantage of their benefits. Another reason to consider EGA Homes is being able to work directly with another Veteran in business. Consequently, you are helping a veteran earn a living for their family and community.

In addition, this division is a certified DVBE (disabled veteran business enterprise) and members of the Disabled Veteran Alliance. Making us one of the most qualified divisions in Southern California to help navigate and answer questions.